Core Viewpoint - Northern Trust Corporation will host a live webcast for its first quarter 2026 earnings conference call and annual meeting of stockholders on April 21, 2026, providing transparency and accessibility to investors [1][2][6]. Group 1: Earnings Conference Call - The earnings conference call will take place on April 21, 2026, at 8:00 a.m. CT, following the release of the first quarter 2026 earnings press release [1]. - The webcast and related presentation materials will be available on Northern Trust's website [1][2]. Group 2: Annual Meeting of Stockholders - The annual meeting of stockholders will also be webcast live on April 21, 2026, at 10:30 a.m. CT [2]. - Additional information regarding the annual meeting can be found in the 2026 Proxy Statement [2]. Group 3: Company Overview - Northern Trust Corporation is a prominent provider of wealth management, asset servicing, asset management, and banking services, with a global presence in 24 U.S. states and 22 international locations [3]. - As of December 31, 2025, Northern Trust managed assets under custody/administration totaling US$18.7 trillion and assets under management of US$1.8 trillion [3].

分组1 - Third Avenue Small-Cap Value Fund achieved a return of 4.62% in Q4 2025, outperforming the MSCI USA Small-Cap Value Index which gained 3.13% [1] - For the full year 2025, the Fund delivered a return of 14.04%, exceeding the index's return of 10.80% [1] - The Fund primarily invests in publicly traded companies with independent management teams and boards, often controlled by individuals or families [1] 分组2 - UMB Financial Corporation (NASDAQ:UMBF) is highlighted as a key stock in the Fund's portfolio, with a market capitalization of $8.676 billion [2] - As of March 09, 2026, UMB Financial's stock closed at $113.96 per share, with a one-month return of -14.56% and a 52-week gain of 15.85% [2] - The Fund praises UMB Financial for its owner-operator mentality and strong financial stewardship [3] 分组3 - UMB Financial Corporation is not among the 40 most popular stocks among hedge funds heading into 2026, with 20 hedge fund portfolios holding the stock at the end of Q4, down from 23 in the previous quarter [4] - While UMB Financial is recognized for its investment potential, the analysis suggests that certain AI stocks may offer greater upside potential with less downside risk [4]

Core Viewpoint - Northern Trust Corporation (NTRS) has demonstrated strong financial performance and stock growth, significantly outperforming the broader market and sector benchmarks over the past year [2][3]. Financial Performance - NTRS reported total revenue of $2.1 billion for Q4, reflecting an 8.4% increase year-over-year, with net income per share rising 7.1% to $2.42 [5]. - The company has shown mid-single-digit growth in trust fees and a double-digit increase in net interest income, supported by disciplined cost management [5]. Stock Performance - Over the past 52 weeks, NTRS shares have increased by 31.3%, while the S&P 500 Index has gained 11.8% [2]. - Year-to-date, NTRS stock is up 7.2%, contrasting with a slight decline in the S&P 500 [2]. Analyst Expectations - For fiscal 2026, analysts project NTRS' earnings per share (EPS) to grow by 9.9% year-over-year to $9.90 [6]. - NTRS has consistently exceeded consensus earnings estimates in the last four quarters, indicating a strong earnings surprise history [6]. Analyst Ratings - The consensus rating among 17 analysts covering NTRS is a "Hold," with ratings including three "Strong Buy," one "Moderate Buy," nine "Hold," one "Moderate Sell," and three "Strong Sell" [6]. - JPMorgan Chase & Co. analyst has maintained a "Neutral" rating with a price target of $153.30, suggesting a 4.9% potential upside [8].

Core Viewpoint - Northern Trust Corporation (NASDAQ:NTRS) is currently considered one of the most undervalued quality stocks, with recent price target increases from multiple analysts despite varying ratings [1][2][3]. Analyst Ratings and Price Targets - Goldman Sachs raised its price target for Northern Trust to $148 from $130 while maintaining a Sell rating [1]. - Citi increased its price target to $162 from $143, keeping a Neutral rating, following a Q4 2025 earnings beat with an EPS of $2.42 and revenue of $2.14 billion [2]. - TD Cowen raised its price target to $175 from $165 with a Buy rating, citing a Q4 2025 core EPS of $2.62 that exceeded expectations due to higher pre-tax pre-provision income and lower provision expenses [3]. Company Overview - Northern Trust Corporation is a financial holding company that provides wealth management, asset servicing, asset management, and banking solutions for various clients, operating in two segments: Asset Servicing and Wealth Management [4].

Group 1 - Northern Trust Corporation (NASDAQ:NTRS) is one of the largest publicly traded asset managers, with TD Cowen raising its price target to $175 from $165 while maintaining a Buy rating [1] - The company's fourth-quarter 2025 core EPS was reported at $2.62, surpassing market expectations due to increased pre-tax pre-provision income and lower provision expenditure, with total revenue reaching $2.14 billion against an expected $2.06 billion [1] - Northern Trust's fee businesses are gaining traction, and the company has demonstrated effective expenditure management, contributing to a favorable forecast for 2026 [2] Group 2 - Northern Trust has upgraded its medium-term pre-tax margin and return on equity (ROE) projections, indicating confidence in its long-term profitability [2] - The company operates through subsidiaries, including The Northern Trust Company, providing wealth management, asset servicing, asset management, and banking solutions to various clients [3]

Core Insights - Global markets showed steady gains for institutional investors in Q4 2025, with a median return of 2.1% for the Northern Trust All Funds Over $100 Million plan universe, finishing the year up 13.1% [1] Performance Summary - The Northern Trust Universe tracks 365 large U.S. institutional investment plans with a combined asset value exceeding $1.4 trillion [1] - Performance varied by plan type: - Northern Trust Corporate (ERISA) universe: 1.3% median return for Q4 - Northern Trust Public Funds universe: 1.9% median return - Northern Trust Foundation and Endowment (F&E) universe: 2.5% median return [1] - U.S. equity markets performed well, with the Northern Trust US Equity program universe achieving a 2.4% median return for Q4 and 15% for the year [1] - The Northern Trust Non-US Equity program universe had a median return of 3.8% in Q4 [1] - Fixed income returns were modest, with the Northern Trust US Fixed Income program universe returning 1.1% in Q4 [1] Long-term Returns - ERISA plan median returns over one, three, and five years were 11.1%, 8.0%, and 2.3% respectively [1] - Public Funds universe median returns for the same periods were 13.1%, 10.7%, and 7.1% [1] - Foundations & Endowments universe median returns were 13.6%, 12.2%, and 8.1% over one, three, and five years respectively [1] Asset Allocation Insights - In the ERISA plan universe, the largest median allocation was U.S. fixed income at 49.7%, though this allocation has been declining [1] - Public Funds universe allocations: U.S. equity at 26.9% and U.S. fixed income at 23.6%, with private equity allocations rising to 14.6% [1] - Foundations & Endowments maintained a median private equity allocation of 22.0% [1]

Core Viewpoint - Northern Trust has appointed Katie Pries as the Country Executive for Northern Trust Asset Servicing in Canada, highlighting the strategic importance of the Canadian market for the company [1][5]. Group 1: Leadership and Management - Katie Pries will oversee the growth and management of Northern Trust's business in Canada, including client and regulatory relationships, and will serve on the Canadian Management Committee [2]. - Pries has a strong background, having previously served as president and CEO of Northern Trust Canada and in various senior roles since joining the company in 1989 [3][4]. Group 2: Market Importance - Canada is a key market for Northern Trust, with over 150 clients across 10 provinces and three territories, and the company has over 30 years of experience in providing asset servicing solutions tailored to institutional investors [5]. - Northern Trust Canada leverages its deep understanding of the local market to offer valuable insights and strategic perspectives to its clients [5]. Group 3: Company Overview - Northern Trust Corporation is a leading provider of wealth management, asset servicing, asset management, and banking services, with a global presence and significant assets under custody/administration of US$18.7 trillion and assets under management of US$1.8 trillion as of December 31, 2025 [6].

Core Viewpoint - Northern Trust Corporation will participate in the BofA Securities 2026 Financial Services Conference, highlighting its ongoing engagement with the financial services community [1]. Company Overview - Northern Trust Corporation is a prominent provider of wealth management, asset servicing, asset management, and banking services, catering to corporations, institutions, affluent families, and individuals [3]. - The company was founded in Chicago in 1889 and has a global presence with offices in 24 U.S. states, Washington, D.C., and 22 locations across Canada, Europe, the Middle East, and the Asia-Pacific region [3]. - As of December 31, 2025, Northern Trust had assets under custody/administration amounting to US$18.7 trillion and assets under management totaling US$1.8 trillion [3]. - Northern Trust has established a reputation for exceptional service, financial expertise, integrity, and innovation over its 135 years of operation [3].

Core Insights - Northern Trust Corporation is a significant player in the financial services sector, providing a variety of services such as asset servicing, fund administration, investment management, and banking solutions, with a global reach targeting corporations, institutions, and affluent individuals [1] Financial Efficiency Analysis - Northern Trust's Return on Invested Capital (ROIC) stands at 6.78%, while its Weighted Average Cost of Capital (WACC) is 19.12%, resulting in a ROIC to WACC ratio of 0.35, indicating that the company is not generating returns above its cost of capital [2] - In comparison, State Street Corporation has a ROIC of 63.17% and a WACC of 15.35%, leading to a ROIC to WACC ratio of 4.12, showcasing its superior efficiency in generating returns well above its cost of capital [3] - Comerica Incorporated reports a ROIC of 3.40% and a WACC of 12.35%, yielding a ROIC to WACC ratio of 0.28, similar to Northern Trust, indicating challenges in capital utilization [4] - M&T Bank Corporation and Zions Bancorporation have ROIC to WACC ratios of 0.60 and 0.26, respectively, with M&T Bank showing a more favorable balance compared to Northern Trust, while Zions faces similar efficiency challenges [5] - Marsh & McLennan Companies has a ROIC to WACC ratio of 1.84, demonstrating a strong ability to generate returns above its cost of capital, though not as high as State Street [5]

Core Viewpoint - Northern Trust Corporation is expected to report increased earnings and revenues for the fourth quarter of 2025, driven by higher net interest income and increased loan demand, despite facing challenges such as elevated expenses and asset quality risks [2][6]. Financial Performance Expectations - Analysts estimate an EPS of $2.37 and revenue of $2.06 billion for the upcoming quarterly earnings report [1]. - Growth in earnings and revenues is anticipated due to stabilizing funding costs and a rise in asset servicing fees [2]. Challenges and Risks - The company faces challenges including elevated expenses and risks related to asset quality, particularly non-performing assets [3][6]. - Concerns regarding financial leverage are highlighted by a debt-to-equity ratio of 1.21, indicating reliance on debt for financing [5]. Historical Performance - Northern Trust has a history of exceeding earnings estimates, as evidenced by its previous quarter's earnings surprise driven by increased net interest income and higher total assets under custody and management [3][6]. Market Position and Valuation - The stock is recognized as a top-ranked momentum stock by Zacks Investment Research, suggesting potential for market outperformance [4][6]. - The company's P/E ratio is 15.78 and price-to-sales ratio is 1.89, reflecting investor confidence, although a current ratio of 0.50 indicates potential challenges in covering short-term liabilities [4]. Cash Flow Concerns - Negative enterprise value to sales and operating cash flow ratios, at -0.97 and -5.56 respectively, may signal valuation and cash flow generation issues [5].